Sypool monthly report in August (from August 1 to August 31)

Goodbye August! Sypool has taken another big step forward. Here is a review of what we have done in August from four aspects.

We have updated our whitepaper to V1.5:

a. Quant SAP
After discussing with our partners, we develop a new mode for Quant SAP. In this mode, qualified managers could apply for CEX credit instead of overcollateralizing SYP.

b. Farming
Since we had planned to accpet multi crypto assets to stake and farm SYP, we believe now it’s time to make it clear that there will be several farming pools instead of one.

a. Finally, we have launched our testnet but there are some flaws. We will fix the bugs and make improvements in round 2.

b. We have adjusted the path we get data. At first, we needed to request data from Solana Devnet. It took much time and the data could not be real-time due to the limited TPS.

But now, we have established a database on the serve to store data. So it is faster and easier to get real-time data than before.

c. We changed the rules to get test tokens. Participants need to claim them on testnet.

a. The followers on twitter reached 38K, increased by almost 10K followers.

b. NFT art contest was held on discord. The best 6 of them will be minted into NFT.

c. We had an AMA with Solana Daily. Check the recap.

d. We held a giveaway with cryptokickers. The NFT shoes will be a prize to our community in the future.

e. We held a funding trading competition on testnet. 11534 users have records in our database; 7318 have made at least 1 transaction in our protocol.

f. We had an AMA with THE AMA ROOM.

e. Our series NFT with DeFine sold out within one second! You can hold it and wait to redeem SYP or you can trade it on DeFine Platform.

Some future plans

Listing on Cex/Dex.

Pre-staking is being planned.

The function of staking will be completed after the TGE.

Testnet Fund Trading Competition Round 2 is coming soon.

More collaborations are being negotiated. Welcome on board.

“Satoshi Nakamoto is a time traveler. I talked with him in the future.” — — Jackson says.

📟If you want to know more about Sypool, follow us on Twitter, join us on Telegram, join us on discord.

Sypool is a synthetic asset management protocol.This is another innovation that we have migrated finance from off-chain to on-chain.